LAS VEGAS, Nov. 20 /Xinhua-PRNewswire-FirstCall/ -- China Holdings,
Inc., a global diversified asset holdings company, and its subsidiaries
engage in multiple China-focused business activities including energy,
renewable energy, resources, utilities, finance, real estate, and
pharmaceuticals, announced today the Company has executed its 3rd
development contract to develop and construct its 3rd Biomass Energy Power
Generation Plant with a power capacity of 50 MW through its controlled
subsidiary "China Power, Inc." in cooperation with the local government in
AnHui Province of the People's Republic of China. The breakthrough brings
the Company's Biomass Energy Power pipeline potential power capacity to 150
MW.

All resources needed to develop and construct the 3rd 50 MW Biomass
Energy Power Generation Plant such as power supplies, water supplies, straw
supplies and 215 MU (1 MU = 667 sq. meters) of land have been secured with
the local government. The Company has secured, and/or will have secured the
Advanced Technology (CAPS-II pyrolysis system, the leading technologies of
biomass energy systems in the world), Efficient Combustion Resulting in
Clean Emission (CAPS-II pyrolysis system is environmentally friendly and
economically profitable, in disposing of agricultural waste), and Modular
Design Maximizing Flexibility, etc.

The Third Biomass Energy Power Generation Plant/Project (Power
Capacity: 50MW) has very similar advantages and benefits from government
policies as the Company's 1st & 2nd Biomass Energy Power Generation
Plants/Projects (2 x 50 MW = 100 MW). The 3rd Biomass Energy Power
Generation Plant (50MW) has the total expected annual power generating
capacity of 400 million kilowatt-hour (kWh) and expected annual revenue of
approximately 250 million Yuan, and expected annual net income (45% of
Revenue) of approximately 112.5 million Yuan based on 8,000 annual
operation hours. The sales price of electricity is RMB 0.60 Yuan/kWh
(approximately USD $0.080/kWh) which is protected by a government
supervision system that insures full purchase and payment through the
government's Policy Protection for the purchase of electricity by biomass
renewable energy. According to State Government NDRC, green electricity
will have priority in sales to the state grid and large thermal power
companies. The total investment for this Biomass Energy Power Generation
Plant/Project. (Power Capacity: 50 MW) is also approximately RMB580 million
Yuan: 35% in cash investment and 65% will be from China-based bank loans
with preferred interest rates with government policy protection for the
Biomass Renewable Energy Project. Approximately 70% to 85% of the
construction costs through non- recourse and long-term debt financing/bank
loans. This Biomass Energy Power Generation Plant will be expected to be
fully operational in approximately 2 - 3 years.

The Company is also establishing longstanding strategic relationships
with other power operators, financial sponsors, suppliers, subcontractors
and governmental representatives that will ensure the Company's successful
development of renewable power generating facilities.

The Company is developing and building up its Renewable Energy Projects
& Pipeline in Biomass Energy Power Generation Plants/Projects & Hydropower
Plants in hopes of reaching a total Potential Power Capacity of 1600 MW of
Renewable Energy shortly via Merger & Acquisitions (M&A), Joint-Venture
Partnerships with Biomass Projects & Hydropower Plants and companies,
governments in China, or/and worldwide. The Company's Advanced Renewable
Energy Strategy & Plan in Hydropower Plants and Biomass Energy Power
Generation Plants will enhance the technical, social, and environmental
benefits of Biomass Energy /hydropower and provide investment and business
opportunities in the cost-competitive Biomass Energy /hydropower capacity
energy supply in China as well as around the world, which will increase
worldwide shareholders' value in the long term.

The Company's objective is to achieve long-term capital appreciation
through investment in companies and other entities with significant assets,
investments, production activities, trading or other business interests in
China, or/and worldwide, or/and which derive a significant part of their
revenue from China, or/and worldwide. For the Company's profile, please
feel free to visit our website: http://www.chinaholding.net .

About China Holdings, Inc.

China Holdings, Inc. is a development stage company with the goal of
becoming a diversified global assets holding company. The Company and its
subsidiaries engage in multiple China-focused business activities including
pharmaceutical, real estate, utilities, energy and finance. Its objective
is to achieve long-term capital appreciation through investment in
companies and other entities with significant assets, investments,
production activities, trading or other business interests in China, or/and
worldwide, or/and which derive a significant part of their revenue from
China, or/and worldwide. The Company has two wholly-owned subsidiaries: (i)
China Power, Inc., and (ii) China Health Holdings, Inc. For the Company's
profile, please feel free to via website: http://www.chinaholding.net .

About China Power, Inc.

China Power Inc., a wholly owned subsidiary of China Holdings, Inc, is
a development stage company with the goal of becoming a global leading
energy holding corporation, that focuses on the Merger & Acquisition,
investment, Research & Development, construction and operation of energy,
and renewable energy, and environment protection projects in China and
worldwide.

About Biomass Renewable Energy in China

Renewable Power Producers are involved in generating electricity power
from renewable energy sources, such as Hydropower (Water), Wind Energy and
Certain Waster Products such as Biomass. The demand on renewable energy
power in the world continues growing and is largely driven by long-term
trends towards stronger policies for environmental protection. The
combustion of fossil fuels such as coal, oil and natural gas to generate
electricity power emits greenhouse gases, and is acknowledged worldwide as
a major source to global warming. For environmental protection, combined
with an increase in electricity demand, lower-level growth of electricity
supplies, and near all- time high energy commodity prices are enticing
electricity producers and providers to diversify their mix of power
generation sources to include a larger share of renewable power.

Biomass Renewable Energy: straw to energy. Straw is renewable energy
and is a part of nature's plants. The carbon on the inside of the straw can
change to organic carbon through absorption of carbon dioxide (CO2) from
the atmosphere during photosynthesis. The biomass energy project, as an
alternative and renewable energy source, is fully supported by the central
government and local governments of China. The development and construction
of the renewable energy project is protected by The Renewable Energy Law,
created on January 1, 2006 by the People Congress of China. The Chinese
central government has set a series of tax exemption/deduction regulations
to encourage the construction of renewable energy projects. The National
Reform and Development Committee implements the purchase electricity price
for renewable energy. It ensures the standard purchase electricity price is
0.25 Yuan/kWh addition base on the local average grid connection price
(0.25-0.44 Yuan/kWh). In addition, there is a supervision system to ensure
full purchase and payment.

Environmental Benefits: official statistical information from the
Ministry of Agriculture in May 2005 shows that the annual production of
straw in China is about 650 million tons. Studies done by international
energy organizations show that crop straw is a type of clean renewable
energy resource. Normally the heating value of crop straw is about 15MJ/kg.
Crop straw is the fourth energy resource after coal, petroleum and natural
gas. Many developed countries have already used straw as raw material to
generate energy. Each year China produces about 650 million tons of crop
straw, which has the same energy content as 268 million tons of regular
coal, about 13.7% of China coal production in 2004. By the year 2010, China
will have had discarded 350-370 million tons of straw. If used to generate
electrical power, it is equivalent to a 90 million KW generator running
5000 hours per year and generating 450,000 million kWh of electricity. This
in return will gear the development of a greener economy and the greater
sustainable economic development of China. Economic Benefits: Biomass
Renewable Energy Project: take 1040TPD as a sample, the average annual
electricity sales revenue of a STE project is 232 million Yuan RMB, the
average annual net profit is 100 million Yuan RMB, and the average net
profit rate is 43%. The economic benefit is very profound. In addition,
based on the most updated data from the China CDM Information Centre, the
guiding price of CO2 is 51.21 RMB/ton. Recently, considering that 0.95kg of
CO2 will be discharged when 1 kWh of electrical power is generated by using
mineral fuel, each 4X260TPD STE plant is estimated to have 3.31 million
tons of CO2 reductions during its 10 years CO2 reduction salable operation.
With a price of 51.21 RMB/ton, the 1040TPD project can have an additional
income of about 170 million RMB, which is 17 million RMB per year. For the
780TPD project, the CO2 reduction is 2.48 million tons over 10 years. With
a price of 51.21 RMB/ton, there will be 127 million RMB in income, which is
12.7 million RMB per year. According to China Energy Research Institute's
2006 update report, China's Biomass Energy implementation and development
has reached its power capacity for 2GW in 2005. China Biomass Energy
Capacity will reach a total of 5GW in 2010, and 30 GW in 2020.

Safe Harbor Statement: To the extent that statements in the press
release are not strictly historical, including statements as to revenue
projections, business strategy, outlook, objectives, future milestones,
plans, intentions, goals, future financial conditions, future collaboration
agreements, the success of the Company's development, events conditioned on
stockholder or other approval, or otherwise as to future events, such
statements are forward looking, all forward-looking statements, whether
written or oral, and whether made by or on behalf of the Company, are
expressly qualified by the cautionary statements and any other cautionary
statements, which may accompany the forward-looking statements, and are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The forward-looking statements contained in
this release are subject to certain risks and uncertainties that could
cause actual results to differ materially from the statements made. Other
important factors that could cause actual results to differ materially
include the following: business conditions and the amount of growth in the
Company's industry and general economy; competitive factors; ability to
attract and retain personnel; the price of the Company's stock; and the
risk factors set forth from time to time in the Company's SEC reports,
including but not limited to its annual report on Form 10-KSB; its
quarterly reports on Forms 10-QSB; and any reports on Form 8-K. In
addition, the company disclaims any obligation to update or correct any
forward-looking statements in all of the Company's press releases to
reflect events or circumstances after the date hereof.

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